Understanding the business cycle is key to thriving in business. Even though it was developed generally for larger scale economics, the small business owner can use it to their advantage. The simple principle gives hope and confidence to those just starting out or struggle in the middle of a "dip" in their business. The bad news is that this is where most people quit. The good news is that success is just around the corner.
A typical business cycle is probably one of the more understood principles of economics. Unfortunatly, it is also probably one of the least applied principals among small business owners. By understanding the normal ebb and flow of business, you can find extra motivation to carry on and find success where others fail.
Since we know how these cycles run, it should be a simple matter to predict them and ride through them. But so often it turns out that people new to online business will quit at the first sign of adversity.
This signals the end of the company.
But there is even a much more sinister result. If a person does not learn how to get past obstacles then success will never be thiers. That goes for online or offline. And it applies to life outside of business as well as within it.
The cycle starts out innocently enough. Actually it's usually exciting and fun at first when a new business gets started. There is generally a lot to learn. Excitement and anticipation of results run high. It's easy to dream about where the new venture will lead and picture the fruits of clever labor.
Everything at this point is all profit projection, fame and fortune. This lays the seeds for future failure, as inevitable obstacles will surely arise. On the surface these don't seem fatal. The fading away of the initial excitement usually begins the downward spiral.
At some point after beginning the project a person will settle down into the day to day routine. This is really the danger zone of losing interest which leads to quitting the business. That, of course, leads to business failure.
This is when the daily tasks of web site promotion, support calls, testing, tracking and tweaking can get monotonous. If this is a new venture, then the business is likely not making a profit yet and that also becomes a weight on enthusiasm.
Knowing this ahead of time will help your success grow like wildfire! Realize that you will likely lose money in the first few weeks and months. That's just part of the cycle. It's called investement. Depending on the business, you will be investing money, time or both money and time. These are all precious and that's why it's so hard to keep pushing forward when you don't see immediate results.
Even though this is one of the hardest parts of making it in your business, it will be one of the most rewarding moments. It's rewarding when you can look back from the top of your success and look with pride upon the tough times.
Your plan included the long hard march before reaching the ocean of success.
And this is the reward for the hard work and persistence. Not only do you receive the financial and lifestyle rewards you were originally going for, but now you have the knowledge of how to do it again.
Have you ever wondered what separates the super successful from everyone else?
It is this: that the very successful people have gone on when other have quit. They've learned what it takes to succeed by experiencing it. By getting though to the other side they have new confidence that what they're doing works.
Next time it's just a matter of refining the process and trying to improve results.
So as you start your business project, keep in mind this cycle. This applies to network marketing, internet marketing, offline business and online business. Riches are not to be had overnight, but they will come with persistence.
One last interesting tidbit: you know about "overnight successes", right? Well, how much work went in ahead of time before that overnight appeared? There were likely months of behind the scenes work to make success happen in a short period of time.
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